Coinbase Acquires Italian Blockchain Analysis Company
Coinbase acquired the blockchain analysis company Neutrino. The Milan-based company will join forces with Coinbase as it is aiming to expand its services to Europe. The Startup has worked for both companies in the crypto sector as well as for law enforcers and regulators. Coinbase approach has always been to enforce compliance with the legal framework. Another important application for blockchain intelligence is the prevention and identification of malicious actors.
Bitmain Unveils New 7nm Mining Chip
Bitmain, the ASIC hardware producer and Chinese mining giant, unveiled the BM1397, the latest 7nm (nanometer) mining chip. The hardware is designed for mining cryptocurrencies such as the Bitcoin cash and the Bitcoin, which use the SHA256 algorithm for proof of work. Bitmain claims the processor needs minimal energy to mine cryptocurrencies, improving energy efficiency by 28.6%. This is because the supplier uses a 7nm FinFet process to manufacture the chip, which has energy consumption to computing ratio of 30J/TH. BM1397 will be used in two new Antiminer mining models- the S17 and the T17, which will be revealed later.
Tesla Not Planning to Venture into Cryptocurrency World
Elon Musk, the CEO of Tesla recently stated that bitcoin is interesting and has tremendous potential in not only the financial sector but also the automobile industry. However, Tesla as a company is not yet ready to embrace. While speaking to the press, Musk stated that the structure and technology that power Bitcoin is brilliant but he does not think it is a good idea to invest Tesla resources in it or any other cryptocurrency.
Binance Launched Test-Phase for Its DEX
The decentralized version of Binance has opened its test phase today. Users can create their own wallets and interact with the platform’s front-end. The platform launched on a testnet of the Binance Chain. The testnet is crucial for the final launch of the decentralized exchange. However, Binance has not yet given a definite date for the launch of the platform. The listing fee for a cryptocurrency on the Dex will be $100,000. Changpeng Zhao indicated that the high entry barrier serves to keep scam coins away from the exchange.
New Cryptocurrency Futures Trading Regulations Passed in Indonesia
The Commodity Futures Trading Regulatory Agency that works under the ministry of Trade on Monday announced that the introduction of the new regulations. All cryptocurrency futures exchanges will not be required to be accredited and fully registered before they can start offering services in the country.